Key Insights:

• Revolut is in discussions to secure $1 billion in funding at a valuation of $65 billion.
• The funding round, primarily led by Greenoaks, will comprise both new shares and existing stock sales.
• The fintech firm recently initiated the rollout of Lightning Network payments for its European clientele.

Expanding Horizons

According to the Financial Times, Revolut, known as Europe’s top-valued startup, is looking to raise significant new capital, which represents a noteworthy 44% increase from its last valuation of $45 billion from a year ago. This strategic funding aims to bolster its global ambitions, positioning the company for future growth in the financial technology landscape.

With plans to execute the funding through a mix of issuing new shares and selling existing ones, the report indicates that Greenoaks, a U.S.-based investment firm notable for supporting high-growth tech companies like Robinhood and Stripe, might lead this funding round, though final details are pending.

CEO Nik Storonsky is on course for a considerable compensation package if the company’s valuation climbs to $150 billion. Revolut continues to broaden its offerings by allowing users access to various cryptocurrencies and crypto stocks, actively working on integrating Lightning Network payments for European users.